KRW Q&A

What is the optimum level for directors salaries for 2024/25?

KRW Q&AMarch 29, 2024|In KRW Q&A|By Keith WitchellEvery tax year the National Insurance and tax thresholds change, and clients ask us what level of salary they should pay themselves from…


Return of the mack: associated companies are back from April 2023

KRW Q&AJuly 18, 2023|In KRW Q&A|By Keith Witchell MACK: Misunderstood Associated Company Kalculation…..well it almost worked!  With two rates of Corporation Tax back from April 2023, so too…


What is the optimum salary level for company owners from April 2023?

KRW Q&AApril 10, 2023|In KRW Q&A|By Keith Witchell Every tax year the National Insurance and tax thresholds change, and clients ask us what level of salary they should pay themselves from…


Will my business qualify for the new £5k per annum employment allowance?

KRW Q&AMarch 7, 2022|In KRW Q&A|By Keith Witchell Against the backdrop of the 1.25% increase in the rate of Employers NIC from April 2022, Rishi Sunak announced a welcome increase in the…


Who has to complete a 60-day capital gains tax return on uk property?

KRW Q&AJanuary 15, 2022|In KRW Q&A|By Keith WitchellAs we move into Self Assessment silly season this month, we’ve come across a couple of clients that sold properties during 2020/21, but…


What tax and NIC will i owe on the SEISS grants?

KRW Q&AJuly 30, 2021|In KRW Q&A|By Keith Witchell Now that we’re into the full swing of preparing 2020/21 Self Assessment Tax Returns, we’ve had a number of clients query their tax bills,…


What’s the crack with the super-deduction? what can i use it on?

KRW Q&AMarch 18, 2021|In KRW Q&A|By Keith WitchellRishi Sunak certainly bigged up the new super-deduction in the Budget earlier this month, prompting many clients to get in touch to see how…


Can a director be furloughed under the job retention scheme?

KRW Q&AMay 24, 2020|In KRW Q&A|By Keith WitchellThe Job Retention Scheme allows for 80% of a furloughed employee’s wages to be reclaimed from HM Revenue & Customs, providing they are…


Can i reclaim vat if my business purchases a car?

KRW Q&AJuly 28, 2019|In KRW Q&A|By Keith WitchellThis question comes up regularly from clients buying a new car, or a second-hand VAT qualifying one: Can the VAT be reclaimed? In the majority…


What tax relief can i claim for working from home?

KRW Q&AJanuary 31, 2019|In KRW Q&A|By Keith WitchellMost business owners will do some of their work from home, but what tax relief can they claim for this? An unincorporated taxpayer (i.e., a…